International Tower Hill Mines (NYSE:THM) Stock Price Up 10.7% – Still a Buy?

International Tower Hill Mines Ltd. (NYSE:THM) shares rose 10.7% during mid-day trading on Monday . The stock traded as high as $2.81 and last traded at $2.8120. Approximately 824,737 shares changed hands during trading, a decline of 51% from the average daily volume of 1,699,631 shares. The stock had previously closed at $2.54.

International Tower Hill Mines Stock Performance

The firm has a market cap of $728.40 million, a price-to-earnings ratio of -139.50 and a beta of 0.85. The company’s fifty day moving average is $2.51 and its two-hundred day moving average is $2.28.

Insider Buying and Selling at International Tower Hill Mines

In other International Tower Hill Mines news, major shareholder Paulson & Co. Inc. bought 4,913,665 shares of International Tower Hill Mines stock in a transaction that occurred on Thursday, April 16th. The shares were acquired at an average price of $2.56 per share, for a total transaction of $12,578,982.40. Following the acquisition, the insider owned 104,486,703 shares of the company’s stock, valued at $267,485,959.68. The trade was a 4.93% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Ketron Financial acquired a new position in shares of International Tower Hill Mines during the fourth quarter worth $28,000. Tudor Investment Corp ET AL acquired a new position in shares of International Tower Hill Mines during the fourth quarter worth $41,000. StoneX Group Inc. lifted its position in shares of International Tower Hill Mines by 43.3% during the fourth quarter. StoneX Group Inc. now owns 27,389 shares of the company’s stock worth $51,000 after purchasing an additional 8,281 shares in the last quarter. WINTON GROUP Ltd acquired a new position in shares of International Tower Hill Mines during the fourth quarter worth $68,000. Finally, Marshall Wace LLP acquired a new position in shares of International Tower Hill Mines during the second quarter worth $32,000. 54.63% of the stock is owned by institutional investors and hedge funds.

International Tower Hill Mines Company Profile

International Tower Hill Mines Ltd. (NYSE American: THM) is a mineral exploration and development company focused on advancing its flagship Livengood gold project in Alaska, United States. Headquartered in Vancouver, Canada, the company’s primary business activity is the exploration, permitting and feasibility study of the Livengood deposit, which hosts a large-scale, low‐sulfidation gold system. Through systematic drilling programs and resource modeling, International Tower Hill Mines aims to define and expand gold resources while advancing environmental and engineering studies toward a potential mining operation.

The Livengood project, situated approximately 70 miles northwest of Fairbanks, Alaska, has been the focal point of International Tower Hill Mines’ efforts since acquiring the property in 2011.